Oil prices rose nearly 4 percent on Wednesday, recovering from the lowest levels in months, after U.S. government data showed strong demand for refined fuel, but concerns remained over rising global crude supply. OPEC, Russia and other non-OPEC producers are considering a supply cut of between 1 million barrels per day (bpd) and 1.4 million bpd at a Dec. 6 meeting, sources familiar with the issue have said.
European stocks closed higher Wednesday, clawing their way back from sharp losses sustained in the previous session. The pan-European Stoxx 600 finished provisionally up 1.2 percent during the day’s deals, with all sectors and major bourses in positive territory. U.S. stocks bounced back in the Wednesday session and by the European close the Dow was higher by more than 150 points. The U.S. markets will be closed Thursday because of Thanksgiving Day. The Canadian dollar is a little better, however, tomorrow’s U.S. holiday, expect Thursday and Friday to be a narrow range
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